Crypto Exchange Startup INX Plans to Raise $130 Million in Landmark IPO
A crypto trade startup, INX Limited, plans to raise funds for 129.5 million dollars through an Initial Public Offering (IPO), in the sale of first security token enlisted with the U.S.SEC (Securities and Exchange Commission).
Additionally, INX’s deal would be one of the largest, thoroughly developed IPOs in the blockchain business. Furthermore, last year Agro mining, a mining subscription company, through London stock exchange raised 32.5 million dollars through an Initial Public Offering.
Moreover, INX will compete with various institutionally-engaged, trading platform which is regulated and launching this year although INX outshines with the digital assets it intends to list. Even though it is a security, INX’s token can also be portrayed as a utility token, because holders will have the choice of utilizing it on the INX Exchange to pay exchange expenses.
During the ICO boom, several issuers made a point that their tokens were not securities, since they had a utility, like a privilege to utilize a platform created with receipts from the sale. In the meantime, token financial specialists will get a share of profit from INX; however, they will not be equity holders.
Besides, crypto resources are a new and uncommon occurrence that does not connect with the old classes; a few regulatory offices have proclaimed jurisdiction over various sections of the industry, which is only for fundraising. Moreover, for the exchange to open for trading, a few more different endorsements should be acquired.
INX was established by Financial, Cryptocurrency, and technology specialists with a mutual vision of transforming the finance world and the financial cryptocurrency trading. INX intends to offer regulated, fully authorized cryptocurrency, security token, and derivatives exchanging platform.
Furthermore, INX’s Board, Management early investors, and advisors include experts from the crypto and traditional finance sector.INX group has more than 60 years of consolidated experience in regulated worldwide financial markets, fintech, trading, brokerage, and banking, have more than five years of experience in blockchain and cryptocurrency-related services, and more than 30 years of enterprise-grade R&D and framework architecture design.